SpaceX is working with at least 21 banks on its blockbuster initial public offering, citizens familiar with the matter mentioned on Tuesday, one of the largest underwriting syndicates assembled in recent years.

The listing, internally codenamed Project Apex, is expected to be among the most closely watched stock sector debuts on Wall Street. The public offering, expected in June, is estimated to value the rocket organization controlled by founder and CEO Elon Musk at $1.75 trillion.

Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup are serving as active bookrunners, or the lead banks managing the deal, the individuals commented, asking not to be identified because the process is not public. A further 16 banks have signed on in smaller roles, they added.

About half of the banks’ names have not previously been reported.

The size of the syndicate underscores the scale and complexity of the planned offering.

Banks Besides the active bookrunners include:

Allen & Co

Barclays

Brazil’s BTG Pactual

Deutsche Bank This also touches on aspects of portfolio.

The Netherlands’ ING Groep

Macquarie

Mizuho

Needham & Co

Raymond James

Royal Bank of Canada

Societe Generale

Banco Santander 

Stifel 

UBS

Wells Fargo

William Blair

The banks are expected to take on roles in institutional, high-net-in different geographic regions along with worth and retail investor channels, Reuters previously reported.

The plan is subject to change and additional banks could still be added, the sources noted.

Texas-based SpaceX did not immediately respond to a request for comment. Bank of America, Barclays, Deutsche Bank, Goldman Sachs, JPMorgan, Mizuho, Santander and Wells Fargo declined to comment. The other banks did not immediately respond to requests for comment.

Large IPO syndicates have become more common for mega deals in recent years.

Chip designer ARM Holdings worked with close to 30 banks on its 2023 listing, while Alibaba Group assembled a similarly large group of underwriters for its record-breaking 2014 debut.